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Ford, Renault, VW shareholder oppose French aid for PSA/Peugeot-Citro"en

Pots and kettles, glass houses and stones - that's a little of what we appear to have going on in the European car market. New reports say that that three European automakers have registered their opposition to a loan deal that PSA/Peugeot-Citroën is working on with the French government. Peugeot's finance arm, Banque PSA Finance, is struggling with its debts and has been downgraded by Moody's to its lowest investment-grade classification, one step above junk. This makes it more expensive for a potential buyer to finance a car through Peugeot. The last thing Peugeot needs is more difficulty selling cars in the tough European market, and the situation will only worsen if the bank's credit worthiness takes another hit.
A deal being worked on would have the French government offer €7 billion ($9B U.S.) in bonds to guarantee the bank's loans, which would give the institution some breathing room to manage its debts and lower its interest rates. Outside of that, a group of banks would provide other, non-guaranteed loans to the bank to further help its position. In exchange for state help, though, the government wants seats on Peugeot's board for worker representatives and a government liaison, along with factory and worker guarantees. The Peugeot family would maintain control of the company.
So what we have is government assistance being provided to a car company's finance arm, akin to the way General Motors' GMAC (now Ally Financial) and Chrysler Financial got help in their time of need. What we also have is Ford and Renault, and Germany's State of Lower Saxony, the second-largest shareholder in Volkswagen, voicing their concern about the proposal, because they say it could create an unfair competitive advantage for Peugeot. Everyone in Europe's down market is fighting for every sale, and if Peugeot gets help to keep its auto loan costs down, it figures to help buyers choose Peugeot or Citroën.

This Ford F-150 might have a Land Rover turbodiesel V6

Our spy photographers just caught this Ford F-150 driving around Dearborn, wearing camouflage around the bed – not so unusual near Ford's headquarters. What's interesting with this particular mule is that it might be packing a Jaguar-Land Rover turbodiesel V6. As with the Super Duty, the F-150 prototype pictured here sports a Venturi exhaust tip popping out the side of the rear bumper behind the wheel, which – along with the sound reported by our shutterbug – suggests that it's burning oil up front. That could mean Ford has found another application for the 3.2-liter, five-cylinder Power Stroke diesel that it just federalized for the Transit van. However our sources suggest what the mule is actually powered by the 3.0-liter Lion V6 diesel that Jaguar Land Rover – once subsidiaries in Ford's Premier Automotive Group – is bringing over for the Td6 models of the Range Rover and Range Rover Sport. The engine produces a respectable 254 horsepower and a healthy 443 pound-feet of torque, and is tipped to be mated to the same ten-speed automatic transmission as the new Raptor. That could give the F-150 the kind of fuel economy and muscle it would need to challenge the likes of the Ram 1500 EcoDiesel and the heavier-duty Nissan Titan with the Cummins engine. With gas prices as low as they are, however, and sales of diesel-powered vehicles lagging, Ford could just be trying to keep up with the competition by offering a light-duty diesel pickup. With its lightweight aluminum body, the diesel F-150 could even surpass the Duramax diesel-powered Chevy Colorado and GMC Canyon for frugality at the pumps, according to Mark Williams of PickupTrucks.com. He told Autoblog that, "it makes perfect sense for Ford to do a diesel. It seems like everyone is pushing them to do a Ranger, but if they can get the F-150 to push 30 mpg it can challenge the Ram Ecodiesel and even the Colorado Duramax." Reached for comment, Ford spokesman Mike Levine sent us the following statement: "We do not speculate about future products. While diesel is a solution, it is not the solution. EcoBoost offers the ideal combination of performance and fuel economy that over 60 percent of F-150 customers are choosing." Featured Gallery 2017 Ford F-150 Diesel: Spy Shots Image Credit: Brian Williams / SpiedBilde Green Spy Photos Ford Land Rover Truck Diesel Vehicles jaguar land rover ford f-150 diesel

Ferrari SUV and Aston Martin in Formula E? | Autoblog Podcast #529

This week, Editor-in-Chief Greg Migliore is joined by Green Editor John Beltz Snyder. They discuss Ferrari's SUV plans as well as Aston Martin's Formula E consideration. They also talk about cars we've driven including the Chevy Colorado ZR2, a Nissan Rogue ProPilot prototype and a Ford Shelby GT350. This week's podcast also features a car you don't need a license to drive. Autoblog Podcast #529 Your browser does not support the audio element. Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Ferrari SUV FCA keeping Jeep Aston Martin mulls Formula E Cars in the office: Ford Shelby GT350, Chevrolet Colorado ZR2, Nissan Rogue with ProPilot Assist The List: Drive a car that requires no license 3 Big Questions: Ferrari SUV or Lamborghini SUV? Chevy Colorado ZR2 or Toyota Tacoma TRD Pro? Ford Shelby GT350 with or without Performance Package? Spend my money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Green Podcasts Aston Martin Chevrolet Ferrari Ford Jeep Lamborghini Nissan SUV Electric Performance Videos Formula E shelby nissan propilot